Pittsburgh-based U.S. Steel Corp. on Monday outlined what it called its “next era of growth” in partnership with Japan’s Nippon Steel, announcing a sweeping multi-year investment plan that it says will reshape the American steel industry through capital spending, technology sharing, and operational efficiencies.
“With world-class technology, extraordinary engineering capabilities, and the best steel industry employees in the world, we are on a great path to forging the future of steelmaking in America,” U.S. Steel CEO Dave Burritt said Nov. 4. “I’m confident that our employees’ grit, dedication and commitment, coupled with Nippon Steel’s investments in our business, will position U.S. Steel for greatness.
“We are well on our way to building a stronger, more competitive company that benefits our employees, customers, and the communities we serve,” added Burritt.
In what U.S. Steel described as a “once-in-a-generation” opportunity, the company said it expects to invest approximately $14 billion in U.S. growth capital, with $11 billion to be deployed by the end of 2028.
The partnership projects that it could unlock about $3 billion in value, including $2.5 billion in incremental run-rate EBITDA generated through capital projects and another $500 million from operational efficiencies.
With Nippon Steel’s advanced technology being integrated into U.S. Steel’s operations, the companies said they have identified more than 200 initiatives designed to drive efficiencies across all business segments. Both firms emphasized that these improvements will help fund the next phase of growth.
“Even just a few months into our partnership with Nippon Steel, we’re making great progress,” said Burritt. “We have a robust pipeline of growth projects, ranging from the modernization of our Gary Works Hot Strip Mill to the new slag recycler at Mon Valley Works and the development of new product capabilities. These initiatives are already delivering real results.”
The partnership is also leveraging world‑class technology sharing to enhance product quality, expand premium offerings, and accelerate time‑to‑market, and is focused on modernizing and expanding manufacturing operations, building product capabilities, and expanding research and development aimed at producing higher-value, lower-emission steel solutions.
The plan also is designed to protect and create more than 100,000 jobs nationwide in the United States, while strengthening the communities where U.S. Steel operates.
Takahiro Mori, Nippon Steel’s representative director and chairman of the U.S. Steel Board, also said that the collaboration is already creating increased value and growth.
“By uniting Nippon Steel’s world‑leading technologies with U.S. Steel’s iconic American operations, we are forging a stronger, more competitive platform for the future,” said Mori. “Our technology and investment are anchored in revitalizing, enhancing, and expanding U. S. Steel facilities.”
Mori said he’s confident that as the partnership continues to combine Nippon Steel’s technological expertise with U.S. Steel’s operations, “we will create additional value for stakeholders and see further growth and financial benefits to come.”
Importantly, added Mori, the companies are helping to bolster the American steel industry and expand job opportunities across the United States, “ensuring long-term benefits for employees, customers, and local communities.”
U.S. Steel said nearly 50 professionals from Nippon Steel have already been deployed across its U.S. operations, forming “one unified team” focused on execution and long-term value creation.
The combined effort, the company said, is “advancing operational excellence through improved production practices, rigorous business case development, and enhanced engineering expertise” to build a stronger, more resilient steelmaking platform for the future.
Burritt and Kevin Lewis, executive vice president, CFO, and head of tubular solutions at U.S. Steel, today released the company’s Medium- to Long-Term Management Plan in a video on YouTube.